Pickup truck financing is part of a much larger U.S. auto-finance market. The available evidence does not isolate pickups, so the figures below identify when they describe all auto loans, a study sample, or broader household credit.
Key Pickup Truck Financing Statistics
The most useful figures for understanding the market are:
- More than $1.64 trillion in outstanding U.S. auto-loan balances was reported through Q3 2024.
- More than 100 million active U.S. auto-finance accounts were estimated through Q3 2024.
- $63 billion in new auto-loan originations was estimated for April 2024 in the United States.
- $20.2 trillion in U.S. household debt was reported at the end of Q4 2024.
- $34,929 was the mean vehicle value in the CFPB auto-loan cross-section.
- $34,538 was the mean original loan amount in that study cross-section.
- $546 was the mean scheduled monthly payment across the study cross-section.
- 742 was the mean credit score across the study auto-loan cross-section.
- $8,380 was the mean monthly income of borrowers in the study cross-section.
- 74 months was the mean original loan term across the study cross-section.
- 4.8% was the mean original interest rate across the study cross-section.
- 1.011 was the mean loan-to-value ratio across the study cross-section.
- 2.805% of study loans ever reached 60-day delinquency during the data period.
- 0.197% of panel loans entered 60-day delinquency per month on average in the study panel.
- A VantageScore below 601 defined subprime used-auto borrowers in the Federal Reserve’s 2024 analysis.
- A VantageScore above 660 defined prime used-auto borrowers in that analysis.
Contents
- Market scale and loan activity
- Loan size, vehicle value and payments
- Credit scores and borrower income
- Terms, rates and loan-to-value
- Delinquency and repayment outcomes
- Access, approvals and repossession risk
Pickup Truck Financing Statistics: Market Scale and Loan Activity
The broad U.S. auto-finance market provides the clearest scale benchmark for pickup financing, but these totals are not pickup-only measures. The Consumer Financial Protection Bureau reported that outstanding auto-loan balances exceeded $1.64 trillion through Q3 2024, while more than 100 million active auto-finance accounts were estimated for the same period.
The CFPB’s account figure is credit-bureau-derived and excludes loans that were not furnished to bureaus. New auto-loan originations were estimated at $63 billion in April 2024, a monthly measure for the overall U.S. auto-finance market.
The CFPB’s repossession study requested account activity from January 1, 2018, through December 31, 2022, from nine major auto lenders. Its pilot coverage is a study window and lender sample, not an estimate of every U.S. auto loan.
Source: Repossession in Auto Finance, Consumer Financial Protection Bureau.
Broader debt data helps place vehicle borrowing in context. The Federal Reserve’s Z.1 accounts reported $20.2 trillion in U.S. household debt at the end of Q4 2024, with household debt increasing at a 3.1% annual rate in that quarter.
- Consumer credit grew at a 2.6% annual rate in Q4 2024; this category includes auto, student and credit-card debt.
- Domestic nonfinancial debt totaled $76.7 trillion at the end of Q4 2024, a macroeconomic measure that includes much more than vehicle finance.
Source: Financial Accounts of the United States: Z.1, Federal Reserve Board.
Pickup Truck Financing Data on Loan Size, Vehicle Value and Payments
The CFPB’s electric-vehicle transition study reports a cross-section of auto loans rather than a pickup-specific sample. Its averages show how vehicle value, original principal and scheduled payments differed across combustion, hybrid and electric-vehicle loans.
| Vehicle category | Mean vehicle value | Mean original loan | Mean scheduled payment |
|---|---|---|---|
| All study loans | $34,929 | $34,538 | $546 per month |
| Combustion vehicles | $34,867 | $34,457 | $544 per month |
| Hybrids | $35,586 | $35,941 | $609 per month |
| Electric vehicles | $40,881 | $38,537 | $530 per month |
Source: Auto Finance in the Electric Vehicle Transition, CFPB, Table 2. These are study-sample means and do not describe pickup trucks specifically.
The electric-vehicle group had the highest mean vehicle value and original loan amount in the table, while its mean scheduled payment was lower than the combustion and hybrid means. Those measures should not be interpreted as a pickup comparison because vehicle categories and borrower composition differ.
Pickup Truck Financing Trends by Credit Score and Borrower Income
Credit quality and income are important dimensions of financing access, but the available study statistics describe auto-loan borrowers across vehicle categories. The cross-sectional mean credit score was 742 overall, 741 for combustion-vehicle loans, 763 for hybrid loans and 788 for electric-vehicle loans.
| Vehicle category | Mean credit score | Mean monthly income |
|---|---|---|
| All study borrowers | 742 | $8,380 |
| Combustion-vehicle borrowers | 741 | $8,308 |
| Hybrid-vehicle borrowers | 763 | $9,429 |
| Electric-vehicle borrowers | 788 | $13,309 |
Source: Auto Finance in the Electric Vehicle Transition, CFPB, Table 2. The figures are study means, not pickup-specific borrower statistics.
The study’s electric-vehicle borrowers had the highest reported mean credit score and monthly income, while combustion-vehicle borrowers were close to the overall mean on both measures. These differences describe the study sample and should not be used to infer the credit profile of pickup buyers generally.
Pickup Truck Financing Statistics on Terms, Rates and Loan-to-Value
Loan duration, interest rate and the relationship between principal and vehicle value shape the cost and risk of a financed vehicle. In the CFPB cross-section, the mean original term was 74 months overall and for combustion and hybrid vehicles, compared with 73 months for electric vehicles.
| Measure | All study loans | Combustion | Hybrid | Electric |
|---|---|---|---|---|
| Mean original term | 74 months | 74 months | 74 months | 73 months |
| Mean original interest rate | 4.8% | 4.9% | 3.7% | 2.3% |
| Mean loan-to-value ratio | 1.011 | Not reported | 1.022 | 0.945 |
| Mean payment-to-income ratio | 0.087 | Not reported | Not reported | 0.062 |
Source: Auto Finance in the Electric Vehicle Transition, CFPB, Table 2. The interest-rate figures come from a historical study sample and are not current pickup-loan offers.
The reported mean original interest rate was 4.8% overall, including 4.9% for combustion vehicles, 3.7% for hybrids and 2.3% for electric vehicles. The study reported a mean loan-to-value ratio of 1.011 overall, 1.022 for hybrids and 0.945 for electric vehicles; the ratio is presented as a study mean rather than a pickup-specific benchmark.
The mean payment-to-income ratio was 0.087 overall and 0.062 for electric-vehicle borrowers. No pickup-only payment burden is supplied by these data.
Pickup Truck Financing Delinquency and Repayment Outcomes
The CFPB study separates cumulative experience in its cross-section from new monthly delinquency entry in its panel. That distinction matters: an ever-60-day-delinquency rate is not the same measure as the average monthly share newly entering 60-day delinquency.
| Vehicle category | Ever 60-day delinquency | Average monthly new entry |
|---|---|---|
| All study loans | 2.805% | 0.197% |
| Combustion vehicles | 2.883% | 0.201% |
| Hybrids | 1.300% | 0.092% |
| Electric vehicles | 0.272% | 0.035% |
Source: Auto Finance in the Electric Vehicle Transition, CFPB, Table 2. The ever measure covers experiencing 60-day delinquency during the data period; the panel measure captures new monthly entries.
Across the study cross-section, 2.805% of loans ever experienced 60-day delinquency, compared with 2.883% for combustion vehicles, 1.300% for hybrids and 0.272% for electric vehicles. In the panel, average monthly entry was 0.197% overall, 0.201% for combustion vehicles, 0.092% for hybrids and 0.035% for electric vehicles.
These are not pickup-truck delinquency rates. They are outcomes for the study’s broader auto-loan populations, with sample and period limitations applying to every category.
Pickup Truck Financing Access, Approvals and Repossession Risk
The Federal Reserve’s used-auto analysis defines borrower risk segments using VantageScore. Subprime used-auto borrowers had scores below 601, near-prime borrowers had scores from 601 to 660, and prime borrowers had scores above 660.
| Used-auto segment | VantageScore definition |
|---|---|
| Subprime | Below 601 |
| Near-prime | 601 to 660 |
| Prime | Above 660 |
Source: Financial Stability Report: Borrowing by Businesses and Households, Federal Reserve Board, 2024 report.
These thresholds are definitions for the cited used-auto analysis, not approval guarantees or pickup-specific underwriting rules. A lender’s decision can involve factors not captured by a score threshold, and the supplied evidence does not quantify pickup-only approval rates.
The CFPB repossession pilot covered nine major auto lenders and accounts with activity from 2018 through 2022. Its findings may not represent overall industry activity, and the broad market totals exclude loans not furnished to credit bureaus.
For readers evaluating pickup financing, the most defensible interpretation is therefore a layered one: use the broad auto-finance totals to understand market scale, the CFPB study means to compare loan characteristics across vehicle categories, and the Federal Reserve definitions to interpret used-auto credit segments. None of those sources isolates pickup trucks, so pickup-specific rates, approval shares and repossession frequencies cannot be stated from this evidence.